China COSCO posts strong Q2;
market continues to recover

Source: http://www.malaya.com.ph/08272010/ship1.html

HONG KONG - China COSCO Holdings, flagship of the country’s premier shipping firm, swung into to the black with second-quarter profit on recovering trade, but overcapacity and a possible global slowdown may drag.

China COSCO shrugged off its worst-ever losses last year to post its second straight quarterly profit, as container ship earnings rebounded sharply and its bulk cargo shipping business posted gains.

However, shipping rates for bulk cargoes, from iron ore to fertilizer, have fallen from a peak in May due to overcapacity, and exports to the United States and Europe are likely to fall during the typically quiet fourth quarter, analysts said.

China COSCO said that although the world economy faces risks and uncertainty in the second half, overall the shipping market this year should be better than 2009.

A.P. Moller-Maersk, the world’s largest container ship operator, lifted its 2010 outlook after posting higher-than-expected profit last week.

China COSCO, which operates the world’s largest bulk cargo fleet and is the No. 7 container shipping firm globally, makes more than half of its profit from dry bulk shipping.

500 HK, China flight bookings cancelled--PAL
INQUIRER.net First Posted 13:34:00 08/26/2010
http://globalnation.inquirer.net/news/breakingnews/view/20100826-288880/...

MANILA, Philippines--In the wake of Monday’s tragic hostage incident where eight Hong Kong residents were killed and several others injured, Philippine Airlines (PAL) on Thursday said that more than 500 tourists from Hong Kong and mainland China have cancelled their bookings with the airline.

“PAL is beginning to feel the initial impact of a Hong Kong government advisory warning its residents to refrain from all travel to the Philippines. As of Wednesday, our Hong Kong station reported at least 558 Manila-bound bookings were cancelled. The bookings consisted of tourists from Hong Kong, Beijing, Xiamen, and other points in China,” said PAL president Jaime J. Bautista in a news release.

In the Philippines, Bautista said two Hong Kong- and Macau-bound Filipino tourists opted to change their destination in view of the current situation.

MARINA legalizes motor-banca registration
PIA Press Release 2010/08/24
http://www.pia.gov.ph/?m=12&r=&y=&mo=&fi=p100824.htm&no=61

Cagayan de Oro City (24 August) -- Pursuant to Maritime Industry Authority (MARINA) Circular No. 2009-005 dated March 3, 2009, MARINA said it will fully implement the "Legalization of unregistered motor-bancas operating in the Philippine waters.

Hence, all motor bancas, regardless of size and utilization, shall be registered with the MARINA.

The following documentary requirements on a per motor-banca basis shall submit: application letter for the issuance of Certificate of Ownership and Certificate of Vessel Registry; Affidavit of Ownership; Affidavit of Admission; Post Construction Plans or Sketch, as application; and Application for the issuance of Motor Boat Operator's License (MBOL).

For more information, kindly visit the nearest City / Municipal Agriculturist Office or MARINA Regional Office located at 2F Se Jo Lim Building, Gmelina St., Carmen, Cagayan de Oro City and look for Imelda V. Capistrano or Caryl Leofla O. Mangubat at (088) 856-9105 or (08822) 726522 and Rosemarie S. Estaño at (086) 231-76-22 for the Surigao Extension Office, Port Area, Surigao city. (MARINA) [top]

Coast Guard: Mentally disturbed man jumps off ship off CDO
08/26/2010 | 12:09 PM
http://www.gmanews.tv/story/199455/coast-guard-mentally-disturbed-man-ju...

Family problems prompted a "mentally disturbed" man to jump off a passenger vessel off Cagayan de Oro City Tuesday night, the Coast Guard said Thursday.

The Coast Guard cited belated reports identifying the man as Carlito Nonay, a resident of Apopong village in General Santos City.

"According to investigation, Nonay is mentally depressed due to family problems and thought of jumping overboard to end his life," it said.

It said Nonay jumped off the passenger/cargo vessel MV Trans Asia-3, some 250 yards away from Macabalan Pier in Cagayan de Oro City at 6:40 p.m. last Tuesday.

Teams from the Coast Guard Cagayan de Oro managed to rescue Nonay north of Macabalan pier.

Found in Nonay’s possession was a life ring that might have been thrown to him from the vessel which kept him afloat, the Coast Guard said.

Coast Guard Station Cagayan de Oro said they were to turn over Nonay to the owner of the ship Trans Asia shipping Company for safekeeping. — LBG/RSJ, GMANews.TV

Airport, ro-ro port in 4th District to be upgraded
By Mitchelle L. Palaubsanon/WAB (The Freeman) Updated August 26, 2010 12:00 AM
http://www.philstar.com/Article.aspx?articleId=606261&publicationSubCate...

CEBU, Philippines - Cebu fourth district Rep. Benhur Salimbangon filed two bills in Congress for the rehabilitation, improvement and modernization of Bantayan Island Airport (House Bill No. 2708) and for the construction of Ro-Ro ferry landing facility in the town of Daanbantayan (House Bill No. 2709).

Salimbangon explained that since the construction of the airport in Bantayan many years ago, it has never been operational for any domestic flight due to lack of airport facilities and navigational equipments. The only facility is has is a short and dilapidated runway.

“The hard fact is that the island of Bantayan is one of the country’s famous tourist destinations,” the bill reads, adding that the trend is that each year, there is a significant increase in the figure of visitors, foreigners and locals wanting to take their vacation in the island.

However, Salimbangon said that reaching the island is time-consuming and does not appear to be so convenient as visitors and tourists from the neighboring islands of the province of Cebu has to make a stop over in Cebu City since there is no direct route going there whether by sea or by air.

Montenegro to purchase 8 secondhand Roro vessels
Written by VG Cabuag / Reporter
Wednesday, 25 August 2010 12:09
http://businessmirror.com.ph/index.php?option=com_content&view=article&i...

BATANGAS-BASED Montenegro Shipping Lines, one of the country’s largest roll-on, roll-off (Roro) operators, said it will acquire eight more second-hand vessels this year, deploying most of the ships in missionary routes to serve the far-flung areas of the country.

Vicente Montenegro Jr., the company’s general manager, said the vessels will be deployed mostly in the 10 new Roro routes that were launched by the Philippine Ports Authority last week.

Montenegro said the funds that they will use for the acquisition will come mostly from loans from the Maritime Leasing Corp. (MLC), the Development Bank of the Philippines, the United Coconut Planters Bank and Banco de Oro. “We are allotting about P1 billion to acquire the vessels that can carry at least 8 buses and 500 passengers,” Montenegro said.

“We continue to upgrade our fleet to service more routes this year whether it is profitable or missionary,” he said, adding that the vessels may be deployed in Pioduran and Esperanza in the Bicol region.

Marina ends 3-day seminar
on marine cartography

Source: http://www.malaya.com.ph/08262010/ship1.html

THE Maritime Industry Authority (Marina) will conclude today its three-day seminar-workshop on Basic Marine Cartography and (Geographical Information System) GIS Course at the Garden Plaza Hotel in Manila.

The workshop, done in partnership with Japan International Cooperation Agency (JICA) and National Mapping Resource Information Authority (NAMRIA), aims to level up the capability of Marina personnel, both in the central and regional offices, to address issues of safety and prevention of maritime accidents through a comprehensive and up to date information and data access and dissemination.

Marina Administrator Emerson M. Lorenzo said that he has been advocating for the use of the GIS since he was a director of Marina and now that he is the administrator, he has the opportunity to implement this innovative approach.

Nicasio A. Conti, deputy administrator for Planning, said that this is a big step in the right direction and is long over-due since other countries have long been using this system.

Baltic index rises again; pace of gains slows

Source: http://www.malaya.com.ph/08262010/ship2.html

LONDON - The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, rose to its highest in over two months on Tuesday helped by cargo enquiry although the pace of gains was slower.

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose0.7 percent, or 20 points, to 2,861 points in a 14th session of gains and was at its highest since June 16. It has risen over 40 percent since it began moving higher on Aug. 5.

"It’s definitely more quiet today and it seems that the momentum is much weaker," said Sverre Svenning, director of research at broker Fearnleys.

Brokers said chartering activity had been driven by Chinese iron ore imports from Australia and Brazil on capesizes after Karnataka, India’s second-largest ore producing state, banned exports from 10 of its ports last month.

The Baltic’s capesize index rose 0.48 percent, with average capesize earnings rising to $37,607 a day. Capesizes typically haul 150,000-ton cargoes such as iron ore and coal.

Filipinos mourn victims of bus hijacking
By the CNN Wire Staff
August 25, 2010 -- Updated 1423 GMT (2223 HKT)
http://edition.cnn.com/2010/WORLD/asiapcf/08/25/philippines.bus.hostages...
Coffins of victims are loaded onto a plane at Manila on Wednesday to be flown home to Hong Kong.

Manila, Philippines (CNN) -- As the bodies of eight tourists killed in a bus hijacking in the Philippines arrived in Hong Kong, China, on Wednesday, the Hong Kong government urged citizens not to take their grief and anger out on Filipinos despite "the poor way" the hijacking was handled by authorities.

Analysts: Philippine leadership wilts under crisis spotlight
By Kevin Voigt, CNN, August 25, 2010 -- Updated 0644 GMT (1444 HKT)
Philippine forensic experts look for evidences on the windshield of the tourist bus in Manila on August 24.

(CNN) -- An isolated incident involving a lone gunman in Manila has turned into an international incident that is proving the first real test of newly elected President Benigno Aquino.

As such, the leadership in Manila suddenly finds itself suddenly in league with multinational corporations like BP and Toyota who watch their credibility erode as missteps are magnified before a global audience.

"Organizational effectiveness shows up most dramatically when dealing with issues related with security," said Dane Chamorro, managing director of Greater China for Control Risks, which advises companies on economics and security issues. "This demonstrated in a very dramatic and tragic small-scale way larger problems that are much more widespread."

As the live broadcast events of Monday slid into tragedy, ire at the outcome shifted quickly from the gunman to the government.